United States Board of Tax Appeals July 15, 1941, Docket No. 101693 (Interstate Transit Lines, Inc. v. Commissioner)

*997OPINION.

Leech :

The questions are (1) whether the credits of its net income entered by petitioner on its books as transferred to the Nebraska company, coupled with the recording of such transfer on the books of the latter company, which held all the funds of the petitioner, constituted a payment by petitioner to the Nebraska company and, if so, (2) whether that payment was one of dividends